Industry analyst Dan McTeague, who is the president of the Canadians for Affordable Energy, told CP24 that the average cost of a liter of fuel would rise four cents by midnight on Wednesday to 190.9 cents a liter.
This will equate to the all-time high on March 10th.
“I expect to reach $ 2 a liter sometime around the weekend of May 24,” McTeague told CP24 last week. “I’m not proud to say that this will happen, but we have warned that circumstances certainly point to that.”
Gas prices have been rising steadily for months, in the wake of Russia’s decision to invade Ukraine.
The cost of a liter of fuel fell to 163.9 cents per liter in early April, but the decline proved to be temporary.